Home / World Business
Fri, Sep 08, 2006 - Page 10 News List

World Business Quick Take


■ Investment
Security first, India says

India on Wednesday said it welcomed investments from China, but New Delhi will give its go-ahead only after its security concerns are satisfied. Economic ties with China -- with whom India is slowly mending relations after a brief but bitter border conflict in 1962 -- "has shown a rapid increase," foreign ministry spokesman Navtej Sarna said in a statement. "While we welcome foreign investments and companies in India, this has to be in accordance with our relevant domestic laws and regulations, and taking into consideration our security concerns and assessments," Sarna said. Sarna's statement comes days after a report in the Times of India said New Delhi had decided not to allow Chinese companies to invest in or manage any Indian port due to "security concerns."

■ infrastructure

Airport under construction

Construction began yesterday in a predominantly Tibetan region of southwest China on what will become the world's second-highest airport, state media said. The Kangding airport, in the western part of Sichuan Province, will be located at 4,280m above sea level, the Xinhua news agency reported. That will make it second only to the airport of Qamdo in Tibet, where planes take off and land in an oxygen-poor environment 4,334m above sea level. With a budget of 960 million yuan (US$120 million), Kangding airport will begin service in 2008, according to the report.

■ Manufacturing

Hyosung acquires tire unit

South Korea's Hyosung Corp said yesterday it has agreed to acquire 100 percent of Goodyear Tire & Rubber Co's tire-cord-making unit in Utica, New York. In a statement, Hyosung said it will take over the unit this year and also later in the year plans to acquire additional tire-cord-manufacturing plants from Goodyear in Decatur, Alabama, Brazil and Luxembourg. Tire cord is the material, made of nylon or various industrial fibers, placed inside the tire for reinforcment. Hyosung, which manufactures a broad array of products including tire cords, carpets, plastic bottles and nylon, didn't provide the financial terms of the acquisition or a specific timeframe.

■ Electronics

iMacs get Core 2 Duo

Apple Computer Inc on Wednesday updated its iMac line with Intel Corp's latest microprocessors. The Intel Core 2 Duo processor is faster than the Intel chips previously used in the iMac and other Macintosh computers. Also on Wednesday, Apple unveiled a new version of its consumer desktop computer -- an iMac with a 24-inch (61cm) screen. With a 2.16-gigahertz chip, the high-end computer retails for US$1,999. Philip Schiller, Apple's senior vice president of worldwide product marketing, said that every iMac will now have the Core 2 Duo chips. The product upgrades come as Apple is looking to gain market share against its PC rivals that run Microsoft Corp's Windows operating system.

■ Electronics

HP in hot water

Hewlett-Packard Co's tactic to get personal phone records of board members without authorization is unethical and likely unlawful, experts said. In a filing on Wednesday with the Securities and Exchange Commission, the Palo Alto-based computer maker said it was not sure a consulting firm that obtained the records complied with laws protecting privacy.

Comments will be moderated. Keep comments relevant to the article. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned. Final decision will be at the discretion of the Taipei Times.

TOP top